GSA Capital Partners LLP Invests $877,000 in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

GSA Capital Partners LLP acquired a new stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 60,840 shares of the oil and gas exploration company’s stock, valued at approximately $877,000.

Other hedge funds also recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 2.8% in the 2nd quarter. Mackenzie Financial Corp now owns 1,436,098 shares of the oil and gas exploration company’s stock valued at $20,809,000 after purchasing an additional 39,682 shares in the last quarter. Diversified Trust Co raised its stake in Petróleo Brasileiro S.A. – Petrobras by 127.1% in the second quarter. Diversified Trust Co now owns 137,141 shares of the oil and gas exploration company’s stock worth $1,987,000 after buying an additional 76,752 shares in the last quarter. Creative Planning lifted its holdings in Petróleo Brasileiro S.A. – Petrobras by 31.6% during the third quarter. Creative Planning now owns 155,013 shares of the oil and gas exploration company’s stock worth $2,234,000 after buying an additional 37,181 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at $1,521,000. Finally, Artemis Investment Management LLP raised its position in shares of Petróleo Brasileiro S.A. – Petrobras by 5.1% in the 3rd quarter. Artemis Investment Management LLP now owns 3,044,971 shares of the oil and gas exploration company’s stock worth $43,878,000 after acquiring an additional 146,590 shares in the last quarter.

Petróleo Brasileiro S.A. – Petrobras Trading Up 0.9 %

NYSE PBR opened at $14.11 on Friday. Petróleo Brasileiro S.A. – Petrobras has a 12-month low of $12.90 and a 12-month high of $17.91. The company has a fifty day simple moving average of $14.26 and a two-hundred day simple moving average of $14.73. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 0.65. The stock has a market cap of $92.03 billion, a P/E ratio of 5.52, a P/E/G ratio of 0.21 and a beta of 1.39.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently declared a Variable dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.227 per share. This represents a yield of 16.3%. The ex-dividend date is Friday, December 27th. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is presently 38.67%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PBR. UBS Group dropped their price objective on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a research report on Monday, August 19th. JPMorgan Chase & Co. upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and raised their price target for the company from $16.50 to $19.00 in a report on Wednesday, September 25th. Hsbc Global Res lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. HSBC lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, Morgan Stanley upgraded Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $18.00 to $20.00 in a report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.24.

Petróleo Brasileiro S.A. – Petrobras Company Profile

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.